FY20 Meeting Minutes

FRIC Meeting Minutes: May 1, 2020

FRIC
MEETING MINUTES
May 1, 2020
Meeting conducted via Zoom 11:30 am to 1:00 pm


Members present: Jon Garfinkel*, Nancy Davin*, Chuck Wieland, Mike Schueller, Sarah Tallman, Julie Urmie, Anand Vijh, Nicole Nisly, Dan Katz†, Steve Bernholtz, John Laverty, Ben Rogers, Cormac O’Sullivan

*co-chairs, †minutes

Members absent: Brian Kaskie

Administrative liaisons present: Rebecca Olson, Joni Troester

Guests: Jessica Wade, Joe Yockey, Kara Wright, Dana Stafford, Cheryl Reardon, Cheri Smith, Julie Sexton, Michael Brownlee, Lisa Mascardo, Alex Mersch, Jill Valde, Susan Klatt


  1. Introductions – Garfinkel and Davin
  2. Approval of February 2020 FRIC meeting minutes: moved by Nisly; second by Wieland
  3. Number of meetings in September for Premium Rate Setting Discussion
    • September 4 only or add September 11
    • Discussion, followed by Roger’s motion to schedule 2 meetings and cancel second if possible; seconded by Wieland; Vote: approved
  4. Specialty Pharmacy Presentation – Michael Brownlee, Chief Pharmacy Officer; with Lisa Mascardo and Alex Mersch
    • Partnership between UI pharmacy and UI Benefits started in 2019. Gives members more high touch service, offers more robust copay assistance program, goal to improve overall pharmacy experience.
    • UI pharmacists are part of the larger health care team and take an active role in the complicated process of health care administration for often complex patients.
    • The specialty pharmacy quality and adherence metrics are very high and exceed those of outside pharmacies.
    • UI pharmacists ask: Is the drug really working? They feel that they do a better job of assessing medication compliance and outcomes relative to the results expected from a particular therapy. One thing that helps produce these results is that UI pharmacists track the labs and make more nimble medication adjustments.
    • 30% of pts take advantage of copay or grant assistance which translates into beneficiary savings of up to $750-800/month.
    • Satisfaction surveys are administered quarterly to the specialty med patients and most patients agree that they are very satisfied. Patients frequently comment that they like getting a live person on the phone.
    • Drug cost trends: specialty pharmacy meds are expensive and outpace the rate of rise of non-specialty medicine inflation. A 7% or more year-over-year increase in specialty pharmacy revenues is expected. 42% of pharmacy industry revenue in 2021 is expected to be accounted for by specialty meds versus 17% in 2011.
    • Approval process for specialty meds is faster: taking about 10 mo v 2 yrs previously, meaning that more meds are entering use at a faster pace.
    • Contributing to overall healthcare costs is that the services that go along with the specialty meds are also more complex and expensive. For example, the meds are not just oral but also may require i.v. administration: at home with home nurse or at i.v. infusion center.
    • 30% of total pharmacy benefits are consumed by just 5 disease categories: Inflammatory diseases like rheumatoid arthritis and inflammatory bowel disease, multiple sclerosis, oncology, Hepatitis C, and HIV. 1-2% of patients can drive 50% of specialty drug costs
    • There are unpredictable cost increases leading to difficulties in forecasting.
    • A priority is to monitor outcomes versus value.
    • Volume of UI specialty pharmacy care increased in 2019 with expanded membership, higher risk pts, and new treatment options.
    • A gray area in the way Wellmark categorized certain meds as pharmacy versus medically related and associated copays was clarified and should no longer be an issue.
    • Lessons learned from member feedback: members like more technology, want to leverage My Chart, improve packaging, and gain access to limited distribution drugs.
    • Questions
      1. Q: How many pts receive copay assistance that weren’t receiving it before? A: no exact data, no answer on change, pharmacy will look into.
      2. Q: Can a reduction in other areas of care be shown as a result of specialty med use (i.e. does the treatment of Hepatitis C lead to lower long-term Hepatitis C related medical costs?) A: Hard to show reduction in other areas of care (mitigation) as a result of use of more specialty meds. More time needed.

  1. COVID-19 Response – Troester
    • New employee orientation: New employee orientation being done via YouTube. The Benefits Office has quickly adapted to the remote environment
    • Dependent eligibility verification: strict enforcement on hold until resolution of acute COVID phase
    • Telehealth: telehealth visits covered at no charge in both UI (Choice and Select) plans; 2900 visits via UIHC’s COVID telehealth screening service  on all plans so far. COVID  testing is free and COVID vaccines will be free. UI opted in to have no copays related to treatment for COVID.
    • CARES Act – Retirement Plan Provisions (details available on https//hr.uiowa.edu/benefits/retirement-plans/cares-act-provision-and-your-retirement-plans)
      1. Penalties and withholding are waived for qualified distributions from retirement plan accounts
      2. Retirement plan loan limits have been increased
      3. Optional suspension of required minimum distributions (RMDs) for 2020

Discussion on COVID response:

  • Discussed tele access depending on patients’ location and continuity of care.
  • Q: How will the suspension of elective surgeries affect costs/revenue? A: Will we have the info in Sept when we start talking about setting rates.
  • Q: How many patients have contacted TIAA to take advantage of the COVID provisions?A:70-80
  • Q: Do we have furloughed employees and what’s happening to their retirement or benefits vis a vis COVID? A: No furloughs yet as result of COVID. All employees are in pay status until the end of the semester. New pay practices starting 5/16/20 will be released.

  1. Active Employee Death Benefits – Olson
    • Health and dental insurance: Continuation for spouse and dependent child (up to age 26), premiums are the same as for retirees
    • University paid group life insurance: 2 x salary up to $400,000 max, some employees may have opted for different coverages
    • Accumulated vacation time payout
    • Accumulated sick leave payout (For employees 55 and older $2,000k max, per State of Iowa guidelines).
    • One month base pay
    • EAP (employee assistance program) service for spouse and children up to 90 days

  1. Updates on metrics
    • Steady to slightly increased ER and outpatient visits compared with Q1 2019
    • Increase in pharmacy and outpatient clinic costs
    • Difficult to assess metrics due to unknown affect of COVID on access.

  1. Possible extra FRIC meeting in May or June related to measures that may need to be taken in response COVID induced losses or costs.

Motion to adjourn: Wieland; second: Nisly

FRIC Meeting Minutes: Mar. 06, 2020

FRIC

MEETING MINUTES
March 6, 2020

302 University Services Building
1130 AM


Members Present: Steve Bernholz, Nancy Davin, Jon Garfinkel, Daniel Katz, John Laverty, Nicole Nisley, Ben Rogers, Michael Schueller, Sarah Tallman, Julie Urmie, Anand Vijh, Chuck Wieland

Members Absent: Brian Kaskie, Cormac O’Sullivan

Administrative liaisons:  Rebecca Olson, Joni Troester

Guests:  Megan Hammes, Richard Saunders, Dana Stafford, Kara Wright, Joe Yockey, George Johnson

 

  1. Introductions– Garfinkel and Davin
  1. Approval of February meeting minutes – Motion to approve by Wieland; second by Davin.  Unanimous approval. 
  1. Follow-up on Open Enrollment Demographics – Provided by Rebecca Olson
    • Shared UIChoice and UISelect Health Plan enrollment data as of January 1, 2020.
    • Chuck asked about information by income bands; others on the committee suggested waiting until UISelect grows (i.e. above 10%)
    • UIHR will add this to the enrollment report template next year
  2. Provider/Network Access Reports – Provided by Joni Troester
    • Feb. 2020 report reviewed (in binder)
    • Health care providers are meeting expectations based upon predetermined metrics.
    • We can expect some variance from month-to-month; in February 2020, slightly higher for primary care, a little lower for specialty care, and a slight increase for tertiary care.
    • Feedback from Dr. Nicole Nisly indicates that UIHC is working to hire more 1st level Neurology care providers at IRL. Also increasing e-consultations between primary and specialty care providers to increase options for primary providers to help patients in their offices.
    • UIHC is not quite ready to publicly discuss planning for the new North Liberty facility. FRIC will have a report from UIHC in Spring 2021.
    • New UIHC patients not willing to take “first-available” appointments are not included in the patient access reports. Patients with already established relationships with a care provider at UIHC are also not included, as they already have priority for on-going appointments.
    • General discussion ensued regarding Coronavirus (COVID-19) and what is being done at UI to prepare and respond. It was recommended to refer to the UI website for Campus Coronavirus Updates at https://coronavirus.uiowa.edu/.
  1. Pharmacy Benefit Manager Update – Provided by Joni Troester
    • Finalizing scope of work with Aon to conduct market check review. They will provide UI initial information this summer and have a formal report in the fall.
    • Phase II would be an RFP if the data suggests it would be beneficial to move forward with that option.
    • It was suggested that even if we don’t do an RFP, that we still look into the pharmaceutical rebate issue and value based opportunities; what we could do to benefit those enrolled in our health insurance plans.
  2. Preliminary Discussion: Potential Use of Health Plan Savings – Garfinkel
    • Just under  $4 million in projected institutional savings (not new revenue) from premium cost structure changes with UI Choice single and UI Choice dual spouse family now having a 5% premium cost share
    • Prior discussions (by the Health Insurance Stakeholder Advisory Committee) have suggested the savings should benefit employees who participate in the health insurance plans (this could be considered a “guiding principal”)
    • A few suggestions from FRIC committee members included:
      • Develop a mechanism to provide grants from the savings for pilot programs in health care that would directly benefit patients or provide preventative care
      • Create an “endowment” to offset unexpected costs in the Plans (i.e. outliers of super high-priced drugs)
      • Create an employee assistance fund for those who are unable to pay for out-of-pocket expenses
      • Determine some free medications that are essential and of high benefit and/or could reduce health care expenses later (i.e. HIV prevention drugs, insulin, etc.)
      • Reduce premium prices and/or out-of-pocket costs
      • Reduce fringe rates to UI departments to help provide more competitive salaries in targeted job categories.
      • Support preventative and well-being services; outside gym and other wellness membership costs (it was mentioned that Wellmark already provides some of this benefit to us; it’s just not advertised widely because of relationship with UI Recreation Services)
      • FRIC co-chairs will reach out to UI Staff Council president – Mike Weaver and UI Faculty Senate V.P. – Joe Yockey to discuss their participation (or by designees from those two shared governance groups) regarding options for the estimated $4 million savings. Mike Weaver convened a group already last year, so may have a list already developed and ready to share.
  1. Level One Providers - Urmie
    • 2019 vs. 2020 data provided
    • Julie Urmie told of some UI staff who work in other parts of the state and don’t have direct access to Level I providers unless they travel back to the Iowa City area. These are mostly health care residents.
    • Joni Troester reminded the committee that UI staff not only work across Iowa but also across the US.
    • There was a discussion about those who are required to live elsewhere because of their job at UI vs. those who choose to work remotely.
    • Discussion continued about the fairness of those remote employees having to pay higher rates (Level II). Chuck Wieland commented that in either case, the maximum out-of-pocket limits are the same. Also, our Level II is more similar to most other employers’ Level I coverage.
    • Mike Schueller said this issue has been discussed before during his tenure on FRIC and because of the complexities of the issue and good coverage provided, no accommodations have ever been made for those working remotely.
    • A question was asked by Jon Garfinkel about how making accommodations for staff working remotely to receive Level I benefits would be different than exceptions being made for certain pharmaceuticals or procedures we make now?
    • A discussion ensued about considering just health care residents working remotely in Iowa because of their relatively low salaries and how paying Level II out-of-pocket could affect them more. Others asked then to consider reviewing all employees at or below certain salary levels. UIHR staff explained the difficulty and complexity of looking at just salary levels of individual staff.
    • Julie Urmie will consider suggesting to out-of-region health care clinics to increase their agreements with UI so that UI staff working in those areas could use Level I benefits. Many of these locations already have some level of agreement with UI.
  2. Old Business
    1. UI Health Care ER – Discussion
  3. New Business
    1. April Meeting – Specialty Pharmacy presentation
    2. Spring 2021 meeting – UI HC North Liberty project

Next Meeting
April 3rd from 11:30 a.m. – 1:00 p.m. at 302 USB (Meeting was canceled)

Minutes taken by John Laverty

FRIC Meeting Minutes: Feb. 07, 2020

FRIC
Meeting Minutes
February 7, 2020
302 University Services Building
1130 AM

Members Present: Jon Garfinkel (co-chair), Nancy Davin (co-chair), John Laverty, Nicole, Nisly, Ben Rodgers, Mike Schueller, Sarah Tallman, Anand Vijh, Julie Urmie, Chuck Wieland,

Administrative Liaisons: Joni Troester, Rebecca Olson

Guests: Richard Saunders, Jessica Wade, Julie Sexton, Dana Stafford, Megan Hammes, Cheryl Reardon, Kara Wright, Jill Valde, Theresa Marshall,

Members Absent: Brian Kaskie, Steve Bernholz, Dan Katz, Cormac O’Sullivan


1.  Introductions– Garfinkel and Davin

2.  Approval of December meeting minutes – Wieland motion; Davin second

Moved and Approved Unanimously

3.  Open Enrollment Update – Olson

  • Shared final open enrollment update from 2019. Only modest changes in terms of UIChoice vs. UISelect population mix since last update.
  • 1323 UI select & 16918 UIChoice - 7% overall migrated to UI Select.
  • Expecting more migration to UI Select next year - particularly as premium on UIChoice increases for employee only and UI dual spouse family
  • FRIC requested more information about age and faculty/P&S/merit demographics in relation to migration to UI Select.
  • Next fall we will have more information that will allow us to make more informed decisions regarding rate setting structure; actual utilization of the new plan
  • Committee member provided personal experience with UI Select.
    • UI Select has been a learning experience. 
    • When you have kids in college you have to communicate regarding out of state and in state when people move back and forth under the Guest Membership program
    • Finding providers on UI Select is not that easy. Opportunity to improve the communications and website.
  • Anecdotal feedback discussed about why staff did not move to UI Select.
    • Feedback that decision is being driven for many by the out of state differences between the plans.
    • Feedback that many are waiting for word of mouth from peers.
    • Differential cost between the plans was not big enough to drive some people to change.

A reminder was provided that UI allows people to move back and forth between plans each year at open enrollment

  • Projected institutional savings projected at just under $4 million this year from the premium cost structure changes (UI Choice single and UI Choice Dual Spouse Family now having a 5% premium cost share)

4.  Retirement Plan – Pre-2009 withdrawals – Olson

  • We currently have an unusual provision that allows withdrawal of pre-2009 employer contributions from the mandatory retirement plan. No other TIAA plans (nationwide) have a similar provision. Proposal is to sunset this provision Jan 1, 2021.
  • Only 14 employees have requested this in the last 10 years but experiencing increasing interest in this provision.
  • Philosophically the university provides contributions for retirement. This clause allows withdrawal of funds in such a way that they could be used for non-retirement. Discussion ensued about the fact that this part of employee compensation and employees should have some discretion about how their compensation is used.
  • Discussion arose about whether the implementation window should be shortened to July 1, 2020.
  • Motion to approve and seconded to accept proposal but change implementation date to July 1, 2020.
  • Significant discussion ensued. Points discussed:
    • Discussion that this is the employer money.
    • This only affects the individual who makes the decision to withdrawal.
    • There are administrative fees associated with these withdrawals and they are error prone due to complexity of calculating the amounts but not a significant impact to plan viability.
    • This is going to be viewed as taking away yet another benefit/reducing the University benefits even if very few use it.
    • This is moving the University back to the standard given that no one else in the nation does this.
    • No history is available about why this was introduced in 2009. And this is not allowed for contributions after 2009.
  • Motion amended after discussion and seconded to accept original proposal with Jan 1, 2021 implementation date. Motion carried with 7 aye and 3 nay

5.  Provider/Network Access Reports/Follow-up – Troester

  • Access for primary care expectations are being met. Individuals who are requesting very specific times/physicians not counted in this number.
  • Specialty care – Expectations met in January.. Some areas such as dermatology and neurology remain challenging.
  • Questions from FRIC members
    • Where there are national shortages, should we be considering level 1 for other providers? Could be explored but would want to do this in partnership with UIHC.
    • Dermatology may not be getting credit for e-consults. We will need to investigate this. These are appointments that are being brought through PAC. Are there non-appointment items like this that need to be considered in our metrics.
    • Where does mental health fall within this information. Psychiatry can be difficult to get into. Level 1 for both plans are community plus UI Healthcare. As such this is different. We also have EAP and can do four free visits before referral to community 
  • Tertiary care metrics are being exceeded and met across all sub-specialties.

UIHC has been a very good partner and is working hard to expand access and meet the access metrics.

6.  Quarterly Metrics – Olson

  • 8 quarters of statistics now available with the Faculty, P&S, and Merit population under same benefits plans.
  • As expected Q4 was the busiest.
  • Number of employees and members has grown modestly.
  • Utilization and costs are up.
  • Seeing about 6% annual cost increases. National is 6-7%.
  • Specialty drugs are growing at the most rapid rate, and we will discuss more in April.

7.  Pharmacy Benefit Manager Update - Troester

  • Finishing up work with Aon on statement of work to examine what financial gain that may be available by leveraging a direct PBM contract.
  • Summary of this analysis will hopefully brought forward to FRIC in September 2020 timeframe
  • If analysis is promising, then UI would consider moving forward to an RFQ.

8.  Old Business

  • UI Health Care ER – Discussion.  March or April agenda.
  • Request to invite UIHC to discuss North Liberty expansion plans in March/April.

Motion to Adjourn approved at 12:48PM

9.  New Business

  • April Meeting - Specialty Pharmacy Presentation

Minutes taken by Ben Rogers.

FRIC Meeting Minutes: Dec. 06, 2019

FRIC
Meeting Minutes
December 6, 2019

302 University Services Building
1130 AM

Members Present: Jon Garfinkel (co-chair), Nancy Davin (co-chair), Steve Bernholz, Dan Katz, John Laverty, Nicole, Nisly, Cormac O’Sullivan, Ben Rodgers, Mike Schueller, Sarah Tallman, Anand Vijh, Julie Urmie, Chuck Wieland,

Administrative Liaisons: Joni Troester, Rebecca Olson

Guests: Richard Saunders, Jessica Wade, Julie Sexton, Dana Stafford, Megan Hammes, Rhonda Fruhling, Chris Thompson, Mary Ann Allan, Susan Klatt

Members Absent: Brian Kaske


  1. Introductions– Jon Garfinkel and Nancy Davin
  • Completed for members and guests.
  1. Approval of November meeting minutes – Jon Garfinkel and Nancy Davin
  • Motion by Mike Schueller to approve the November meeting minutes, second by Chuck Wieland. Motion passed unanimously.
  1. Diabetes Pilot Update – Presentation by Rhonda Fruhling and Chris Thompson, UI Health Care
  • A total of 42 patients have participated in the diabetes pilot program: 21 are considered active, 13 disengaged and 8 graduated from the program. Over the 12 month period, Hemoglobin A1C improved, diabetes self-control improved, and QoL improved. Cost data was confounded by outliers. Future goals are to increase access by engaging new providers and to develop new guidelines for patient progress through the program and what constitutes engagement. 
  • The committee is interested in additional data on costs and a comparison of outcomes for active vs disengaged participants.
  1. Open Enrollment Update – Rebecca Olson
  • Benefits office staff provided extensive educational materials to assist with open enrollment and also conducted in person and zoom informational sessions. About 750 people attended the in person sessions and about 150 people attended the zoom sessions. They are still finalizing enrollment statistics, but approximately 7% of employees enrolled in UISelect. 
  • There is a new voluntary 457b deferred compensation plan beginning in January 2020.  Employees may enroll beginning mid-December.  Employee only contributions will be made to the plan.
  • Late December, Benefits is mailing a letter to the homes of employees and retirees who chose UISelect to confirm their enrollment and provide a recap of the plan provisions and drug formulary, including the process for obtaining a guest membership through the UISelect Plan
  1. Quarterly Metrics – Rebecca Olson
  • Quarterly utilization and cost metrics were presented. Utilization and costs generally were up relative to last year.
  1. Provider/Network Access Reports/Follow-up – Joni Troester
  • Provider network access reports will be begin to be sent monthly, but eventually will transition to quarterly reports. An escalation protocol for the patient access center has been formalized.  There still are anecdotal reports of access issues - it is important to report these issues to the UI Benefits Office so that they can follow-up. Plan to put notification on benefits website that employees should identify themselves as UI Choice or UI Select members when they call UI Health Care for appointments.
  1. Old Business
  • As a follow-up to last meeting’s discussion about emergency department (ED) wait times, Dan Katz proposed that employees should be able to go elsewhere and have equivalent coverage if wait times are longer than 2 hours. Dan will summarize the proposal in an email and send to the committee chairs. Additional data from the UI ED will be requested.

Motion by Mike Schueller to adjourn the meeting, second by Nicole Nisly. Meeting adjourned at 1:00 p.m. 

Meeting minutes submitted by Julie Urmie

FRIC Meeting Minutes: Nov. 01, 2019

Funded Retirement and Insurance Committee (FRIC) Meeting
November 1, 2019,
302 USB

Introduction and roll call of members:  Nancy Davin, Daniel Katz, John Laverty, Nicole Nisly, Cormac O’Sullivan, Ben Rogers, Michael Schueller, Sarah Tallman, Julie Urmie, Chuck Wieland, Steve Bernholtz

Introduction and roll of administrative liaisons: Joni Troester, Rebecca Olson

Absent (members): Brian Kaskie, Jon Garfinkel, Anand Vijh

Visitors: Richard Saunders, Julie Sexton, Dana Stafford, Kara Wright, Andrew Nugent, Jennifer Vermeer, Dan Fick, Jessica Wade, Keri Semaru, Theresa Marshall


  1. Approval of October 2019 minutes: Motion to approve O’Sullivan, 2nd Rogers.  Unanimous approval
  2. UIHC Emergency Room Access/Capacity presentation: Andy Nugent (Medical Director for the ED at UIHC) provided information on the Emergency Department access and capacity. 
    • ER volume has decrease by approx. 5000 visits in the past few years.
    • 40% of ER patients are admitted. The national average is 15%. 
    • Quick Care & Urgent Care are an option.
    • Discussion around education on when to use Quick Care or Urgent Care rather than going to the ER.
    • The Crisis Stabilization Unit has helped provide mental health care relieving the ER.
    • Dan Katz suggested having a Kiosk in the ER lobby to help patients decide if they should wait in the ER or go to Quick/Urgent Care instead. 
    • There is a need for a Pediatric ER to see these patients in a less stressful/scary environment. 
    • UIHC census is often over capacity at 98% full. Optimum capacity is 85%. This often can create back log in the ED for patients that need to be admitted.
  3. Open Enrollment Update: Rebecca Olson informed the group that Open Enrollment is going well.
    • There have been 32 training sessions, 18 off site & office hours all over campus to educate staff on their health insurance options.
    • In the first nine days, of those who have completed enrollment for 2020 benefits, 84% chose UIChoice & 10% chose UISelect. 35% migration was predicted. 
    • Open Enrollment goes until November 15th. Historically, many wait until the last week to enroll. 
    • Staff will receive a confirmation & have until November 25th to make any final changes.
  4. Access Targets for 2020:  Jennifer Vermeer provided an update on UIHC access for 2020.
    • The dashboard report she provided is new. There was discussion about primary care physicians and wait times for appointments. 
    • Additionally, there was some question on primary care providers that were accepting new patients. 
    • The new dashboard will be updated and shared with FRIC in 2020.
  5. Retirement Plan Investment Review:
    • Joni Troester informed the committee that the wording used for the upcoming review was changed based on feedback from FRIC. 
    • Review will focus on areas in both the mandatory and voluntary plan related to fund line-up and plan architecture. 
    • Phase 2 for the review will explore options for additional flexibility in plan design. 
    • Next steps will be to go to the Shared Governance committees for review.

Wieland motion; Schueller second; Unanimous approval to adjourn.

Adjournment: Meeting adjourned at 12:50 p.m.

Submitted by Sarah Tallman

FRIC Meeting Minutes: Oct. 04, 2019

Funded Retirement and Insurance Committee (FRIC) Meeting

October 4, 2019, 302 USB

Introduction and roll call of members:  Nancy Davin, Jon Garfinkel, Daniel Katz, John Laverty, Nicole Nisly, Cormac O’Sullivan, Ben Rogers, Michael Schueller, Sarah Tallman, Julie Urmie, Anand Vijh, Chuck Wieland

Introduction and roll of administrative liaisons: Joni Troester, Rebecca Olson

Absent (members): Steve Bernholtz, Brian Kaskie

Visitors: Megan Hammes, Cheryl Reardon, Richard Saunders, Julie Sexton, Dana Stafford, Jill Valde,  Kara Wright, Mary Ann Allen


  1. Approval of September 2019 minutes: Motion to approve Wieland, 2nd Rogers. Unanimous approval
  2. Catastrophic leave policy: Joni Troester provided an update on proposed changes to the Catastrophic leave policy which would allow eligibility for 9-month faculty and staff to receive donations.
  3. Changes in medical plans and open enrollment: Following extensive deliberations of FRIC and approval by the Board of Regents, University of Iowa will offer two health plans during calendar year 2020: UIChoice (existing) and UISelect (new). UISelect plan has been designed to accommodate the needs of employees who want lower monthly premiums in exchange for increased copay and deductibles. Additional differences include Level Three providers by exception only and a change in the Rx Formulary. The UI Benefits department intends to hold extensive informational sessions and one-on-one office hours to educate employees on the two plans. This effort starts next week with mailing out the information packet for open enrollment that begins on October 23 and closes on November 15, 2019.
    • Other changes include an increase to the Healthcare Flexible Spending Account limit to $2,700 for calendar year 2020.
  4. Mandatory retirement plan fund line-up changes:  The Retirement Fund Investment Review Committee has recommended fund line-up changes to the mandatory 403(b) retirement plan.
    • Two funds will be changed to a share class with lower fees. These are as follows:
      • T. Rowe Price Growth Stock Fund will be changed from the retail share class to institutional share class
      • Columbia Small Cap Value Fund will be changed from the retail share class to the institutional share class.
    • Two funds will be closed with assets and balances mapped to the identified funds. This is due to low performance and higher fees of the funds that will be closed. These include:
      • TIAA CREF International Equity (TIIEX) MAPPED TO TIAA CREF International Equity Index Fund (TCIEX)
      • Victory Munder Mid Cap Growth Fund (MGOYX) MAPPED TO TIAA-CREF Mid-Cap Growth Fund (TRPWX)
  5. Offering a 457(b) retirement saving plan: Effective January 1, 2020, University of Iowa will offer a voluntary 457(b) plan that enables employees to make contributions for retirement savings. Contributions can be on a pre-tax or post-tax basis. 2019 IRS limits allow $19,000 as a maximum contribution. This is in addition to the 403(b) voluntary plan limits. Campus communication will occur mid-December 2019 with contributions starting 1/1/20.
  6. Updates on LiveWELL program: Megan Hammes, Senior Director of UI LiveWELL program provided an update on LiveWELL, specifically LiveWELL 2020 and planned changes. In 2019, LiveWell went through an external review. Recommendations from this review formed the basis for liveWELL 2020. Changes include alignment of liveWELL mission with UI mission, expansion of programming and services focused on campus engagement and well-being culture, expansion of one staff member, and discontinuing the one-time annually Personal Health Assessment incentive with reallocation of funds to support the expanded programming and staff.
  7. Retirement Plan Investment Reviews:  The Retirement Fund Investment Review Committee is the committee with fiduciary responsibility for all employee retirement plans provided by UI. As part of this fiduciary responsibility, the Committee is considering a review of the retirement plans by an outside consultant to make sure plan design, funds, and fees are in alignment with best practice and meet all compliance standards. More discussion will occur with FRIC on this issue.

Adjournment: Meeting adjourned at 1 p.m.

Submitted by Anand M. Vijh